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By Lucius W. Mayer

WHILE the mind of the financier does not normally run along channels similar to those of his technical adviser, engineers, because of their exactness, are ever more called upon to manage affairs where financial matters are involved. It is, true, not a relatively large number have thus far functioned in this capacity. It is also true that the essentially financial mind could not serve in a responsible engineering position; for to be a successful engineer one requires precise thinking, making due allowance for factors of safety. To be a financier seems to require less aptitude for exact thinking than of enthusiasm and confidence in capitalizing prospective possibilities. Both require imagination, the engineer being, more conscious of the limitations of natural conditions. It is to be regretted that the engineer' stands so far aloof from financial matters. Many consider them- selves successful, as did Steinmetz, as long as their reward is the consciousness that they are giving supreme service to mankind. They are 'generally happy in their work and, like our honored brothers who are teachers, gain their greatest satisfaction, not in the amount of their remuneration so much as in the service rendered society and in the excellence of results achieved. Indeed, these sentiments bespeak character and command respect.

Jan 1, 1924

By Mark E. Schlesinger

Engineering design follows a six–step sequence. Demonstration of this sequence in materials engineering is less common. A case study is presented, using the 1989 paper by Gafner on the development of 990 gold-titanium alloy. This paper identifies a need, develops the problem, identifies alternatives, demonstrates the use of metallurgical principles to identify alternative responses, and shows how more favorable options are selected. The paper can also be used to illustrate engineering design as an iterative process. The paper is also useful as a starting point for more in-depth examination of specific elements of the design process, and lends itself to the creation of student exercises.

Jan 1, 2014

By J. B. Evans

"NORMALLY the duties of the exploration engineer and geologist cover the initial, and possibly, the most important phase of mining property evaluation; that phase being the presentation of an opinion of the property's ore reserve potential in terms of tonnage and grade. The prime objective of this pa-per is to outline one method of bridging the wide gap that lies between a know ledge of a property' s tonnage and grade potential and an appreciation of the value of that property in dollars and cents.THE PRESENTATION OF PROPERTY EVALUATIONThe engineer engaged on a mining property evaluation, regardless of whether he be an independent consultant, or a company employee, has as his goal, the presentation of his appreciation of the property's potential value or worth within terms of reference acceptable to his principal.To furnish a complete evaluation report, the evaluator must firstly study all aspects pertaining to the particular property under consideration, then present his appreciation of the property's worth in some tangible form. The ultimate presentation is one giving a Present Value of the pro pert y in terms of monetary exchange. Such an idealistic presentation is not always possible; typical preventives being -insufficient reliable information, limited time, Jack of ability and absence of definite direction."

Jan 1, 1960

The basic model for the evaluation of any coal-bearing property is the cash flow projection, the major components of which are operating costs, capital charges, taxation and revenue. A range of cash flow projections can be produced by varying the assumptions which underlie the operating costs, by assuming various forms of capital funding, by making assumptions as to future taxation and by speculating upon the present and future market value of the product. As for any model, the informational inputs and assumptions are vital because, no matter how sophisticated the processing, the informational inputs and assumptions cannot be improved by it. That is to say, the validity of the output (the total evaluation itself) cannot be of greater certainty or significance than that of the inputs. The total evaluation can of course be expressed in a number of ways such as the Discounted Cash Flow (D.C.F.) Rate of Return, the Net Present Value or, the Payback Period. The foregoing statement may seem trite. However, it is necessary to be clear about it so as to avoid unnecessary complication and a preoccupation with techniques as opposed to the informational inputs and assumptions. So far as techniques are concerned, much has been written and said about them during the last decade. Most of us have heard, if not always understood, something about probabilistic models, Monte Carlo simulation, sensitivity and risk analysis to say nothing of inflationary costing and the relative merits of developing cash flows in terms of current or constant money. Those techniques have their value, particularly if they can serve to illuminate conclusions which could not be reached on a simple and even perhaps on an intuitive basis. I am, however, reminded of one major coal mining project in which 20 or more major variables were identified, many cash flow projections were run on the computer and a detailed sensitivity analysis was carried out. The major conclusion reached was that the D.C.F. Rate of Return was predominantly sensitive to variations in selling price and operating cost. Of course, the funding and fiscal elements of a cash flow projection have to be dealt with as rigorously as possible. However, in the development of any coal property, capital requirements and taxation are, in part at any rate, dependent upon the assumed operational parameters. If the latter are misjudged, the whole evaluation process is deeply affected. The same is true of revenue, in the sense that, the positive cash flow is a function of output as well as selling price and again, misjudgements about achievable and maintainable levels of production also deeply affect the final evaluation. I shall try to underline the fundamental influence of the technological factors upon lead times, capital costs, operating costs, taxation, funding and the achievable and maintainable levels of production. In turn, these affect the whole question of coal property evaluation and indeed, the likely success or failure of any coal mining venture. I make no apology therefore that this paper does not set out to discuss the more esoteric aspects of the evaluation process but rather, directs attention towards some of the informational inputs and assumptions which merit clarification and discussion.

Jan 1, 1975

By Emmanuel N. Zevgolis

After the Krupp-Renn process was shown to be unsuitable for treatment of the Greek nickeliferous laterites, the LM process was developed. It involved roasting reduction up to metallic iron in a Rotary Kiln (R/K) and smelting in an Electric Furnace (E/F). Ferronickel (with 15% Ni) produced in the E/F, was upgraded to 90-95% Ni in an 02 converter. Raw Ni was then electrolyzed to pure Ni. The LM process was not applied for very long however, due to various problems. So, the Larco process was developed, i.e., pre-reduction in R/Ks, smelting of the calcine in E/Fs for ferronickel production (15% Ni) and enrichment to 20% Ni, in an O2 converter. Until now, many technological improvements have been invented and applied or adjusted to the process, which have made it a fully reliable and competitive one. sohe of the improvements were the invention and application of a new granulation process for liquid ferronickel, the modification of the existing R/Ks, E/Fs and converters and the design of new ones, and others that are described in the paper. Keywords: Ferronickel, metallurgy, laterites, LM process, Larco process

Jan 1, 2004

By Robert Hochscheid

When the original water-only cyclone patents were established in the 1950?s, the supplies of low cost oil and natural gas were abundant and low selling prices for metallurgical and steam coal provided little incentive for developing more sophisticated coal cleaning systems. Bituminous coal sold for less than $5.00 per ton, and in this period many domestic coal producers discarded to the slurry pond the coal finer than 0.5-mm. For many producers, the selling price would not permit the recovery of the capital and operating costs required for dewatering and drying the fine coal. Water-only Cyclones Clean Fine Metallurgical Coal The first broad interest in the water-only cyclone became evident in the mid- 19601s, and though some work was done on coarser coals, investigators were particularly interested in cleaning coal finer than 0.5-mm. Flotation was the only fine coal cleaning method that was broadly accepted, but short-comings were recognized and investigators were looking for an effective fine coal cleaning device or system. Because of the greater market value and the need for reducing pyritic sulfur in metallurgical coals, much of the development work of the 1960's was done on coking coals.

Jan 1, 1981

By R. W. Raymond

On the Manchuria. SOMEWHAT fatigued with excess of enjoyment and strenuous continuity of movement on the trip to and through California, the members and guests of the Institute party embarked Tuesday, Oct. 17, on the Pacific Mail S. S. Manchuria for a further journey to and through Japan. The good ship displayed the flag of the Institute (blue cross-hammers on a white ground), together with the Stars and Stripes and the ensign of the company. Uninterrupted fair weather and smooth water attended the passage to Honolulu. The Manchuria proved herself most commodious, comfortable and clean ("A sweeter steamship never sailed," quoth President Hunt) ; Captain Dixon and his officers were most agreeable, as well as most efficient; the passenger list comprised many congenial people besides ourselves-among them a score of missionary folk, and also Mr. M. H. de Young, Vice-President of the Panama

Jan 1, 1912

By Rhys Baker, Tim O’Brien, Joshua M. Hoffman

This paper discusses this division of power as it relates to the explosives industry. Each branch is responsive to the public and the processes through which each promulgates regulation and legislation require public input in different forms.

Feb 1, 2020

By L. D. van Dyk, G. S. Tshofu

Iron ore fines are by-products of iron ore mining operations. Unlike iron ore lumps, fines cannot directly be used in conventional iron making processes, and consequently large quantities accumulate around the world. Pelletizing and sintering can be used to convert iron ore fines into agglomerates or briquettes for processing with lump ore, but these techniques are energy intensive and produce greenhouse gases. This research investigated the extraction of iron from iron ore fines using acetylacetone (a ß-diketone) as an environmentally friendly alternative process for fines utilization. A 2k factorial experiment design was used to identify the significant extraction variables. It was found that the reaction temperature and solid to liquid ratio had significant effects on the extraction process. The extraction kinetics were studied at different temperatures and the highest iron extraction (97 %) was obtained after 48 hours at 413 K and 0.025:1 (g:mL) solid to liquid ratio for a particle size range of +106 to -150 µm. The extraction products were easily separated from the unreacted acetylacetone by flash distillation and iron(III) acetylacetonate crystals were recovered. An economic evaluation showed that selling the crystals was profitable. Alternatively, the crystals can be reduced with hydrogen to iron particles and acetylacetone (for reuse).

Jan 1, 2015

By J. J. Laffin

In the pursuit of comfort and safety, the wonders of science have given us controlled heating and cooling, thus enabling us to enjoy all the aspects of present-day living to an extreme never previously •envisaged. Man's attempt to conquer the elements largely involves con-trolling the temperature around him. Without having conquered this aspect, his body energy would be consumed in trying to maintain physical comfort, rather than being invested in the explorations which have resulted in man's control over the forces of nature. The indirect methods used to obtain the most agreeable temperature environment were developed because of the natural tendency to strive for increased safety, convenience and comfort. Until the twentieth century, when heat generated by atomic fission became a reality, man's only source of heat, except for that of the sun, came from his discovery of fire.

Jan 1, 1962

By Michael C. Newbury

For thousands of years gold has been not only a commodity, valued for its comparative scarceness, immutability and homogeneity but also a medium of exchange which has no nationality. Approximately 90% of the gold produced is still accessible in the world, although some of it in museums, galleries, jewellery and dental work is not immediately available for circulation. The majority is held as bars by central banks for their reserves; the balance circulates as coinage or bullion held for investment. The value is further enhanced by the political aspect that gold cannot be debased as paper currency can and, therefore, it always becomes an investment refuge. It has always been possible to buy and sell gold at a price which is readily established by reference to bullion's weight and purity; and it is this fact which makes a loan denominated in gold, rather than one in currency, a viable alternative means of finance. The purpose of this paper is to discuss some general aspects of what is considered to be one of the more effective and presently popular methods of financing the development of a gold mine - the gold loan. This is not intended to discuss all the minute details which must be uniquely designed to fit each individual situation, but rather to provide general guidelines. You will all be aware of the traditional sequence whereby companies primarily finance exploration work by the raising of equity through the sale of shares to the public or by that unique Canadian form.

Jan 1, 1987

By H. A. Wheeler

IT may surprise some of our members to learn, among the industries based on the mineral resources of the United States that of clay now ranks third, being exceeded in value of product only by pig-iron and coal. The present annual value of clay-products exceeds the value of the outputs of gold and silver, and also exceeds the combined values of copper, lead, zinc, aluminum, mercury, antimony and nickel. These facts are shown in Table I. which gives the statistics for the year 1902

Jan 1, 1905

By E. Wraith, W. W. Culver, B. Wesstrom, P. J. Mackey

Electrodeposited copper of the 1860s was of unprecedented purity, although the profound significance of this achievement was not fully realised until the dawn of the electrical age a decade or so later. By the 1870s there were three somewhat large (4 to 4.5 tonnes Cu/day) electrolytic copper refineries in Germany based on J. B. Elkington’s process, first patented in the United Kingdom in 1865. More such refineries were planned throughout Europe. At the same time, copper output in the U.S.A. was starting to expand and with the spread of European electrolytic copper refining technology across the Atlantic, the door opened to major increases in North American output. The technology was first taken up in 1879 by James Douglas at the Chemical Copper Company in Phoenixville, Pennsylvania, where he was Superintendent. Douglas was assisted in this pioneering work by Edward Weston. The copper refinery at the Chemical Copper Company was small, not unlike the first plants in Europe. The present authors contend that the electrolytic copper refinery at the Chemical Copper should be regarded as the first copper refinery in the United States. The Balbach Copper Refinery in New Jersey, which commenced operations in 1883 with an initial production of about 2 tonnes Cu/day, has been erroneously considered as the “first commercial refinery”; it rightly belongs in second place. The early developments at these plants are discussed in this paper. INTRODUCTION In the mid-1800s, the main uses for copper were as sheathing on the wooden sailing ships of the day to protect from marine growth, boiler components in locomotives and steam engines, along with some construction uses. Copper ores were generally smelted, and further fire-refined for market. The recovery of gold and silver, if present in payable amounts, was a slow and relatively expensive step. This situation regarding copper would change by the 1870s with advances in the generation and use of electricity. The introduction of the dynamo led to major developments in electrorefining. First demonstrated in principle by Faraday in 1831 (Faraday, 1832), the dynamo was subsequently adapted and further developed by J.S. Woolrich for electro-metallurgical applications in 1842 (Woolrich, 1842; Napier, 1845). It provided a new source of power with the unprecedented potential to significantly change the scale of metal production by electrometallurgy. Interestingly enough, copper would be needed for the electrical age just beginning. By 1869, advances in dynamo design offered relatively reliable large machines, which enabled J. B. Elkington in the United Kingdom to use the dynamo in the radically new Pembrey copper electrorefinery — the first copper electrorefinery in the world (Wraith, 2013). Initial production at Pembrey was small — in the range of 1 to 2 tonnes/day — while gold and silver were recovered more readily by the treatment of the slimes than with methods used hitherto.

Jan 1, 2019

By Matthew T. Mowry

As the mining industry continues to hire young professionals to supplant the growing number of retirees, a well-developed engineering curriculum, coupled with practical, real-world training, can prepare mining engineering graduates to make meaningful contributions in the industry. Successful companies can be measured not only by their reserve base and annual production but also by their retention of mining engineering graduates with zero to five years of operational experience. My personal experience in the industry during the last five years has been varied and rewarding. The knowledge and experience I have gained have taught me valuable lessons that prepared me for my current role.

Nov 1, 2013

By P. L. Schwartz

The present method of shipping potash to the myriad of consumers is inefficient, not only because of the extreme and unpredictable nature of seasonal demand, but also because railway car turnaround times are very lengthy. The Floating Train system employs unit trains of potash operating from Saskatchewan mines to distribution warehouses located throughout the six corn-belt states of Minnesota, Iowa, Wisconsin , Illinois, Indiana and Ohio, transshipment points at Thunder Bay and the U.S. waterway network, and, where applicable , large consumers. These unit trains would "float", meaning that they would not originate at the same mine nor terminate at the same warehouse on each trip . They would " float " freely among the origins, destinations and participating railways. The potash would be shipped uniformly throughout the year and usually stored in warehouses located within the six states. It would be subsequently delivered to consumers within a 75-mile radius. Distribution warehouses and rolling stock would be provided by a new company, Potash Distribution Limited, consisting of major potash producers and the Canadian railways. Potash Distribution Limited would be responsible for the distribution of potash from the origin through the warehouses to the final consumer. The additional costs of providing warehouse space and outbound delivery will be offset by the reduction in both rail rates and "peaking" expenses.

Jan 1, 1978

By Jarvis ST

Colliery spoil is the major constituent of colliery spoil 'rockpaste' which has been used to infill abandoned limestone mines in the West Midlands of England since the early-1980s. The other constituents of rockpasle are pulverised fuel ash, lime and water. A key property of the rockpaste is its ability to flow within the mine workings over considerable distances before setting. This paper describes the work carried out to identify suitable sites as sources of colliery spoil for making rockpaste and goes onto consider the flow properties of the material and the monitoring methods used on-site. A full-scale trial comprising mulling a 6600 nt' section of an abandoned mine was conducted prior to the mulling of the Littleton Street Mine which had a volume of about 500 000 m'. As well as describing the methods used for monitoring the movement of rockpaste material, a description is also given of a dip-meter developed specifically for the purpose of measuring the level of paste in the mine. This paper shows how a colliery spoil based paste has been successfully rued for infilling abandoned mine workings. The monitoring systems developed for use in the two case studies presented in this paper are now being used extensively for infilling other abandoned mine workings. To-date over I I mines with a total volume exceeding two million cubic metres have been backfilled.

Jan 1, 1998

By Joseph Daniels

When Dame Nature shook her horn of plenty and distributed her bounties over the face of the earth, she blessed the Pacific coast with many riches, but with these she added many offsetting disadvantages or handicaps, designed, no doubt, to effect a proper balance between wealth and economy. Nowhere is the application of the law of compensation more aptly illustrated than in the matter of fuel and power resources. A glance at the map of the Pacific northwest will show that west of the Coast Range batholith we are bounteously supplied with coal, with timber, with water power, and with tributary resources of oil from California. Alaska, British Columbia, Washington, all contain large resources of coal; Oregon and California to a lesser degree, but, compensating the golden state for its deficiency in this respect, oil was placed in the treasure ,chest. Timber, of wide variety and in lavish quantity, covers the forests from tidewater to mountain slope, and within this protected watershed area flow streams which give the Pacific coast states the largest single share of the potential water-power resources of the country. Something over 40 per cent. of the total estimated horsepower of the United States is to be found in the Pacific states, and British Columbia has 15 per cent. of the total for Canada; but of this total less than 10 per cent. has been developed.

Jan 1, 1924

By W. A. Lang

Introduction Under our present civilization, industrial developments will be greatest in those areas in which energy .can be most economically produced and efficiently used, where labour is in adequate supply, and where markets for the products of industry are available. A knowledge of fuels- the present major sources of energy- and of their utilization is therefore of vital importance. With that in mind, the aim in this paper will be to outline the known reserves of fuels in Alberta, to give their characteristics, to indicate the markets served by each, and to offer some suggestions for the future development of the coal industry. The paper should be regarded as a compilation of published data rather than as an original treatise. Alberta is richly blessed by having large reserves of mineral fuels. The estimated reserves of coal are 46,562 million tons. Alberta is the oil and gas province of Canada. The world's largest deposit of bituminous sand occurs along the Athabaska river in Alberta. In addition, there are large areas of forested land in the northern and western sections of the Province, and the rivers serve for the development of hydro-power.

Jan 1, 1949

By H. E. Rudi

The advent of open nit mining permitted the development and processing of minerals never before thought possible. New equipment was needed; new techniques were devised; new methods were called for. This development and acquisition of new techniques, methods and equipment did not, however, stir the souls of our industry and educational leaders sufficiently to a recognition of the problem of people, especially the future development of the people needed in open-pit mining. The people problem has been and will be with us as long as there are two of them. The development of people will be required for the same reason. The problem of developing future personnel for open-pit mining is not what must be developed; that is known to all of us and can be briefly stated ashore and better of everything." As I see it, the real problem lies in determining (1) what personnel are really critical, (2) why are they critical and (3) how can we develop them.

Jan 1, 1965

By J. D. Forrester

I have availed myself of the opportunity to prepare, and to give this talk because, as incumbent Chairman, I am directed by the Bylaws of the Council of Education to make an Annual Report of the Council activities which have transpired during the past year. In addition, and inasmuch as I have this captive audience, I am taking the liberty to express also some beliefs I hold about various other elements of Mineral Industry education. First, my report is that constructive progress has been achieved in the Council of Education during 1960-61. These advancements have been particularly notable through projects carried on by the Committee on Meetings and Programs, by the Student Chapters Committee, by the Accrediting Affairs Committee and by the Committee for Securing Better Representation of Mineral Industry Colleges. I believe each of these groups will report concerning details of their respective programs at the Business Meeting of the Council. On the other hand, not as much has been done in some areas of work as I had hoped would be the case when I took office as Chairman last February. Let me make clear that these delinquencies, for the most part, have resulted through my ineptness in handling of affairs; they are not caused by the failure to perform various assignments which I have given to council members.

Jan 1, 1961